Tridge summary
In 2021, Iran's soybean oil imports surged to approximately 620-630 thousand tons, a threefold increase from the previous year, with 90% of these imports coming from Argentina. Other countries contributing to the imports include Brazil, Turkey, and Russia. However, there is a potential ban on soybean oil imports to Iran, expected to be implemented from March 2022, in an effort to bolster the country's internal soybean processing capabilities, which currently processes around 2-2.1 million tons annually. This ban could significantly impact the global market by altering trade flows.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to experts from Oil World (Germany), at the end of 2021, Iran imported about 620-630 thousand tons of soybean oil, which is more than 3 times higher than in 2020 (about 200 thousand tons). At the same time, the bulk of the product was imported from Argentina (420-430 thousand tons), and the rest from Brazil, Turkey and Russia. It is also noted that the possible introduction of a ban on the import of soybean oil to Iran from March 2022 could have significant consequences for the world market and lead to changes in trade flows. As specified, the specified restriction may be introduced by the Iranian government in order to support the internal ...
Source: Oilworld
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